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Rigel Announces Presentation at UCSD Frontiers of Clinical Investigation Symposium

SOUTH SAN FRANCISCO, Calif. - September 12, 2005

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that a presentation related to its research program in rheumatoid arthritis will be made at the University of California San Diego’s (UCSD) Clinical Investigation Symposium - Autoimmunity 2005: From Bench to Bedside, taking place September 15-17 at the Estancia Hotel in La Jolla, California.

Presentation Time: Saturday, September 17, 2005, 8:15 a.m. PDT
Title: An Orally Bioavailable Inhibitor of Syk Kinase (R406) Inhibits, Dose Responsively, Human Basophil CD63 Expression Following Ex Vivo FCe Receptor Stimulation

Rigel has focused its rheumatoid arthritis program on the development of oral, safe, disease modifying anti-rheumatic drugs (DMARD’s). The company’s product candidates are intended to be used early in the course of the disease to prevent the progression of major bone and cartilage destruction. R788, an oral formulation of R406, is Rigel’s lead product candidate. Phase I trial results, to date, have demonstrated that R788 was safe and well-tolerated. In preclinical studies, Rigel’s compound greatly diminished the swelling and tissue destruction associated with rheumatoid arthritis.

About Rigel (www.rigel.com)
Rigel's mission is to become a source of novel, small-molecule drugs to meet large, unmet medical needs. We have three product development programs: asthma/allergy, rheumatoid arthritis and cancer. Our strategy is to commence clinical trials with one lead compound each year and to develop a portfolio of product candidates for our own proprietary programs and with potential collaborative partners.

This press release contains "forward-looking" statements, including statements related to Rigel's plans to pursue clinical development of product candidates and the timing thereof and the potential efficacy of product candidates. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "plans," "intends," "expects" and similar expressions are intended to identify these forward-looking statements. There are a number of important factors that could cause Rigel's results to differ materially from those indicated by these forward-looking statements, including risks associated with the timing and success of pre-clinical studies and clinical trials, as well as other risks detailed from time to time in Rigel's SEC reports, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2005. Rigel does not undertake any obligation to update forward-looking statements.

Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com

Media Contact: Carolyn Bumgardner Wang, WeissComm Partners, Inc.
Phone: 415.946.1065
Email: carolyn@weisscommpartners.com